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May 11, 2021

Kilroy plans to graft new 18-story office tower onto landmarked Lloyd Building

Real Estate Editor

Rendering by Miller Hull [enlarge]
This perspective looks roughly south at the three-building development, which hasn’t yet entered design review.

Kilroy Realty has big plans for the former Vance properties it acquired two years ago in the Denny Triangle. Three buildings are proposed; none have yet entered design review.

The first office building is now going by SIXO — as in 600 Olive Way. (A second office tower and, later, residential tower are also planned.) SIXO would be conjoined with the landmarked Lloyd Building to the north, at 601 Stewart St., and architect Miller Hull will on Friday brief the city's Landmarks Preservation Board on that proposed addition.

Architect Otherworks, of Los Angeles, is also working on the entire project. The 600 Olive building would replace the old structured parking garage on the corner of Sixth Avenue. In the preferred development scheme, there would be a transfer of development rights from the SIXO site west to what's now the Bank of America block (at 500 Olive). Thus SIXO would rise 18 stories to the south of the 10-story Lloyd Building, where a restoration is planned.

The two buildings, old and new, would be linked on every third floor. Stairs are indicated between the other non-conforming floors. And the nearly century-old Lloyd Building would get a new roof deck. Its old elevator core, exterior fire escapes and chimney would be removed. The ground floor and office lobby would be reconfigured, with original design elements preserved.

Floor plates at the Lloyd Building now have about 4,547 square feet. The 600 Olive addition might thus yield something like 23,000 square feet per floor. Meeting notes from a year ago estimated the combined project size at around 309,000 square feet. The structure would top out at around 240 feet.

Underground parking would be accessed from the alley to the east. Meeting notes from a year ago indicated about 178 stalls.

Kilroy's more recent project description estimates 900,000 square feet of office in two buildings. The west office building at 500 Olive is projected to have 30 floors, with a maximum height of 420 feet. That may end being called FIVEO, with perhaps 600,000 square feet.

The Lloyd Building preservation team also includes Legacy Renovation Products & Services and Pioneer Masonry Restoration Co. Coughlin Porter Lundeen is also working on the broader project, which will target LEED certification. Site Workshop is the landscape architect

East of the two planned office buildings, at 1825 Seventh Ave., a future residential tower could have 575,000 square feet, with a maximum height of 550 feet. Combined retail/commercial and restaurant space in all three buildings could total 25,000 square feet.

Publicly traded Kilroy, of Los Angeles, acquired the nearly two-block property from Vance for about $133 million in late 2019. (Vance's Tower Building will remain on the east block.) Kilroy and Miller Hull previously collaborated on 333 Dexter, which is now fully leased to Apple.

Kilroy previously indicated it hoped to break ground on the first office building next year, with completion in about two years. The firm isn't known for residential development, and has indicated that 1875 Seventh might be developed by another company or JV partner.


Brian Miller can be reached by email at brian.miller@djc.com or by phone at (206) 219-6517.

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